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Stock-Based Compensation Plans
 6 Months Ended
Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation Plans Stock-Based Compensation Plans
As more fully discussed in Note 12 of the notes to the consolidated financial statements in our 2023 Annual Report on Form 10-K, we have awards outstanding for Common Stock under stock-based employee compensation plans.
The following table summarizes our award activity during the six months ended June 30, 2024:
Service-Based
Restricted Stock Awards		Performance-Based
Restricted Stock Awards
Shares or Units (#) Weighted-Average
Award Price ($)		Shares or Units (#) Weighted-Average
Award Price ($)
Outstanding at December 31, 2023249,935 $32.05 353,187 $31.77 
Granted/Issued160,955 34.71 121,824 34.73 
Awards vested or rights exercised(1)
(147,836)32.24 (145,104)32.84 
Forfeited(3,900)34.29 — — 
Additional units earned due to performance— — (25,550)33.08 
Outstanding at June 30, 2024259,154 $33.56 304,357 $32.33 
Restricted units expected to vest259,154 $33.56 221,517 $31.44 
(1)Includes shares repurchased from employees for employee’s tax liability.
The aggregate intrinsic value of outstanding service-based restricted stock awards was approximately $6.6 million at June 30, 2024. The restrictions on the service-based awards generally lapse or vest annually, primarily over one-year and three-year periods.
The total fair value of performance-based restricted stock awards that vested during the six months ended June 30, 2024 was approximately $4.9 million. The aggregate intrinsic value of outstanding performance awards at June 30, 2024 expected to vest was approximately $5.6 million. The performance awards are based on one-year performance periods but cliff vest in approximately three years from grant date.
The compensation for all awards is charged to selling, general and administrative expenses over the respective grants’ vesting periods, primarily on a straight-line basis. The amount charged was approximately $4.1 and $4.4 million for the six months ended June 30, 2024 and 2023, respectively. Forfeitures are recognized as they occur. As of June 30, 2024, the total compensation cost related to unvested equity awards was approximately $8.8 million and is expected to be recognized over a weighted-average period of two years.